Fidelity Said to Push Endo Health for Sale: Bloomberg

By Brendan Conway

Fund manager Fidelity Investments is flexing some muscle, according to Bloomberg News: The company is reportedly pressing drugmaker Endo Health Solutions (ENDP) to consider selling itself after weak forecasts.

Sasha Damouni, Ryan Flinn and Jeffrey McCracken cite three unnamed sources with knowledge of the situation, who added that Endo isn’t running a sale process. But Fidelity. the drugmaker’s biggest shareholder, is “frustrated” by earnings and revenue misses at Endo and has contacted buyers such as Warner Chilcott (WCRX) to gauge their interest, according to the story, which also says that Warner has hired Goldman Sachs (GS) to advise on the matter.

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Chris Dieterich has covered the U.S. stock market for The Wall Street Journal and Dow Jones Newswires. He is a graduate of Regis University and the Missouri School of Journalism.